This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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Belinda View Drop Down
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Joined: 14/March/2005
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Belinda Quote  Post ReplyReply Direct Link To This Post Topic: Need some advice..."PLEEEEASE !!
    Posted: 14/March/2005 at 12:08pm
I had a student approx. 12 years ago. I was forgiven for the Sakatchewan loan, thru CIBC. All of a sudden they start coming after me 7-8 years after the fact wanting it all back. I do not have a copy of that "forgivness letter" and they say..ha..ha.. as the collector tells me theres no such thing as forgivness. Anyway willing to finish paying off Canada loan but this Sask. loan I need some advice or help as nobody seems to know to much in this area. Was looking at going "Bankrupt" as an option, but dont think this works huh? I cant get any info from the province in this matter, not even how much they want. Do you have a possible answer to this stupidity?
Thanks a whole bunch, Its appreciated!
B :)
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 14/March/2005 at 3:40pm

 

 Belinda,

 The only way to solve this problem of yours is to get into the records and provincial loan colelction department to identify limitation issues and see if they apply.

 If you have been forgiven, then you have to go back tot he CIBC and get this letter.

 Is the collection agency collecting for CIBC or the Province of Saskatchewan?

 

Let me know if you need help. It sounds like a solvable issue.

 

John LeBlanc
The Canadian Financial Wellness Group
 
Tel: (902) 464-8727
 
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